CPIM Exam Flashcards
pertains to managing a product’s costs and sales in the market throughout its life
Product life cycle
5 stages of product life cycle
Development, Market Introduction, Growth, Maturity, Decline
Stage when product sales are increasing
Growth stage
Stage when the product sales are staying consistent
Maturity stage
Stage when the product needs to be marketed in order to entice consumers to try it
Market introduction stage
Stage when product sales are decreasing
Decline stage
Method in which messages are relayed to the target audience
Communication channels
In a ___, people study the characteristics of a target market
Market Analysis
Studying the size, location, nature, and characteristics of a market
Market Analysis
Degree to which the market accepts a product (two terms)
Market reach, market penetration
Developing market plans for products or services
Market planning
Products are products and stored based on forecasted demand rather than specific orders
Make-to-Stock
Organizational cost structure that is best for products that have multiple options and are in moderate to high demand
Assemble-to-Order
Organizational cost structure that is best for products that have a wide variety of options and that have sporadic demand patterns
Make-to-Order
Organizational cost structure that is best for products that have short lead times and moderate production levels
Configure-to-Order
